Fulton Breakefield Broenniman LLC Cuts Stake in Dominion Energy, Inc. (NYSE:D)

Fulton Breakefield Broenniman LLC decreased its holdings in Dominion Energy, Inc. (NYSE:D) by 12.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,297 shares of the utilities provider’s stock after selling 614 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Dominion Energy were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Dominion Energy by 16.0% in the 1st quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock valued at $4,346,193,000 after purchasing an additional 12,178,713 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Dominion Energy by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 29,635,621 shares of the utilities provider’s stock valued at $1,452,145,000 after buying an additional 477,181 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Dominion Energy by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock valued at $1,204,904,000 after buying an additional 2,801,687 shares during the period. Capital Research Global Investors boosted its position in Dominion Energy by 20.1% during the 1st quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock valued at $1,061,740,000 after buying an additional 3,613,614 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Dominion Energy by 6.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider’s stock valued at $734,007,000 after buying an additional 940,402 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price target for the company. BMO Capital Markets upped their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Barclays upped their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Scotiabank upped their price objective on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Dominion Energy presently has an average rating of “Hold” and an average target price of $55.40.

Dominion Energy Stock Up 5.1 %

Shares of Dominion Energy stock opened at $60.55 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78. The company has a 50-day moving average of $56.88 and a 200 day moving average of $53.17. The firm has a market cap of $50.72 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.52 and a beta of 0.60. Dominion Energy, Inc. has a 1 year low of $39.18 and a 1 year high of $60.72.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.56 by $0.09. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the prior year, the firm posted $0.53 EPS. Dominion Energy’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Friday, August 30th. Dominion Energy’s dividend payout ratio (DPR) is 137.63%.

Dominion Energy Company Profile

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.